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Category: Finance

  • MIL-OSI: WeTrade Earns Australian Financial Licence from ASIC

    Source: GlobeNewswire (MIL-OSI)

    LIMASSOL, Cyprus, July 08, 2025 (GLOBE NEWSWIRE) — WeTrade Group, a leading global financial broker, has achieved a significant milestone by securing a licence from the ASIC for its Australian entity, WeTrade Capital (Australia) Pty Ltd (Licence No. 544624). This licence is a key part of WeTrade’s plan to grow in Asia-Pacific and operate with strong regulatory oversight. 

    Trusted Trading, Backed by Australian Regulation 

    The ASIC licence enables WeTrade to provide regulated financial services in Australia, one of the world’s most respected and well-regulated financial markets. This move follows WeTrade’s recent expansion into Europe and demonstrates the company’s ongoing commitment to delivering secure and transparent trading experiences globally. 

    A Word from WeTrade’s CEO: Why This Matters 

    “We are proud to add another prestigious licence to our growing global portfolio. Securing the ASIC licence not only reinforces our reputation as a trusted, multi-asset broker, but also enables us to offer enhanced protection and regulated financial services to more clients worldwide,” said George Miltiadou, CEO of WeTrade. 

    For clients, this matters because regulation by ASIC, one of the world’s most respected financial authorities, means greater trust and accountability. It assures traders that WeTrade operates under strict Australian financial laws, with transparent practices and strong safeguards in place to protect client funds. 

    In an industry where trust is everything, being regulated helps clients trade with greater confidence, knowing they are working with a broker that meets the highest standards of compliance and integrity. 

     In Trust We Trade – Strengthening Global Presence  

    This latest authorisation expands WeTrade’s international regulatory footprint and positions the Group to pursue new opportunities in Australia and surrounding markets. It also underscores the Group’s focus on operating under the supervision of respected regulatory bodies around the world. 

    As WeTrade expands its global reach, the focus remains clear: build a safer, more transparent, and more rewarding trading experience for clients everywhere. 

    About WeTrade 
     
    WeTrade is a globally recognised financial broker, founded in 2015, offering innovative online trading services across a diverse range of CFD instruments. Known for its strong client protection, ultra-low spreads, and award-winning loyalty programs, WeTrade is dedicated to making trading both successful and rewarding. 

    Media Contact

    Organization: WeTrade

    Contact Person Name: CHONG PEI ZHOU

    Website: https://www.wetradebroker.com/

    Email: contactus@wetradebroker.com

    Disclaimer: This press release is provided by WeTrade. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. Speculate only with funds that you can afford to lose. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2741254a-71f5-4d60-aa06-111ea627393d

    The MIL Network –

  • MIL-OSI Asia-Pac: Speech by FS at Hong Kong – Korea Capital Markets Conference (English only) (with photos)

    Source: Hong Kong Government special administrative region

    Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong – Korea Capital Markets Conference held in Seoul, Korea today (July 9):

    Mr Seo (Chairman of the Korea Financial Investment Association, Mr Seo Yoo-seok), Greg (Managing Director and Head of Markets, the Hong Kong Exchanges and Clearing Limited, Mr Gregory Yu), Ms Ding Chen (Chief Executive Officer of CSOP Asset Management Limited), ladies and gentlemen,
    Hong Kong: what’s up

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: OCR steady as she goes

    Source: New Zealand Government

    The Government’s responsible fiscal management has supported the Reserve Bank to keep the Official Cash Rate low, Finance Minister Nicola Willis says.

    The Reserve Bank of New Zealand today announced it would keep the Official Cash Rate (OCR) at 3.25 per cent while continuing to foreshadow further reductions in the OCR.

    “There has been a 2.25 percentage point reduction in the Official Cash Rate since August last year – easing the cost of borrowing and delivering much needed cost of living relief for many New Zealand households,” Nicola Willis says.

    “While many Kiwis are already experiencing lower mortgage repayments off the back of previous OCR reductions, more will benefit when they re-fix their mortgage this year, meaning the positive effects of previous rate drops will continue to flow-through our economy over the coming months.

    “Lower interest rates free-up household budgets for spending elsewhere and they ease the path for those wishing to enter the housing market. They also provide relief to interest-rate sensitive sectors of the economy, including building and construction, with lower interest rates often providing a kick-start for big new projects. 

    “Despite global uncertainty, the Government is continuing to drive New Zealand’s economic recovery forward. Our careful stewardship of the Government books and our ongoing efforts to reduce costly laws and regulations mean inflation and interest rates can stay lower than would otherwise be the case.

    “Gone are the days of reckless economic management fueling the flames of inflation and interest rates – New Zealand now has steady hands at the wheel, and a Government that is determined to keep our economic fundamentals in good order.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: OCR steady as she goes

    Source: New Zealand Government

    The Government’s responsible fiscal management has supported the Reserve Bank to keep the Official Cash Rate low, Finance Minister Nicola Willis says.

    The Reserve Bank of New Zealand today announced it would keep the Official Cash Rate (OCR) at 3.25 per cent while continuing to foreshadow further reductions in the OCR.

    “There has been a 2.25 percentage point reduction in the Official Cash Rate since August last year – easing the cost of borrowing and delivering much needed cost of living relief for many New Zealand households,” Nicola Willis says.

    “While many Kiwis are already experiencing lower mortgage repayments off the back of previous OCR reductions, more will benefit when they re-fix their mortgage this year, meaning the positive effects of previous rate drops will continue to flow-through our economy over the coming months.

    “Lower interest rates free-up household budgets for spending elsewhere and they ease the path for those wishing to enter the housing market. They also provide relief to interest-rate sensitive sectors of the economy, including building and construction, with lower interest rates often providing a kick-start for big new projects. 

    “Despite global uncertainty, the Government is continuing to drive New Zealand’s economic recovery forward. Our careful stewardship of the Government books and our ongoing efforts to reduce costly laws and regulations mean inflation and interest rates can stay lower than would otherwise be the case.

    “Gone are the days of reckless economic management fueling the flames of inflation and interest rates – New Zealand now has steady hands at the wheel, and a Government that is determined to keep our economic fundamentals in good order.”

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Dmitry Patrushev visited Omsk region on a working visit

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    Dmitry Patrushev visited Omsk Region on a working visit. With Minister of Natural Resources Alexander Kozlov (left) and the region’s governor Vitaly Khotsenko (right)

    July 8, 2025

    Dmitry Patrushev, as part of a working visit to Omsk Oblast, took part in the ceremonial launch of a complex of biological treatment facilities. With Minister of Natural Resources Alexander Kozlov (left), regional governor Vitaly Khotsenko and Chairman of the Management Board of PJSC Gazprom Neft Alexander Dyukov (right)

    July 8, 2025

    As part of his working visit, Dmitry Patrushev met with the Governor of the Omsk Region, Vitaly Khotsenko

    July 8, 2025

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    Dmitry Patrushev visited Omsk Region on a working visit. With Minister of Natural Resources Alexander Kozlov (left) and the region’s governor Vitaly Khotsenko (right)

    Deputy Prime Minister Dmitry Patrushev visited Omsk Oblast on a working visit. Together with the region’s governor Vitaly Khotsenko and the chairman of the board of PJSC Gazprom Neft Alexander Dyukov, the deputy prime minister took part in the ceremonial launch of a complex of biological treatment facilities.

    “We are launching the Biosphere complex, a system of modern treatment facilities at the Omsk Oil Refinery. This largest environmental project of Gazprom Neft has been implemented as part of the Ecology national project. Investments amounted to about 30 billion rubles. Thanks to innovative technologies, the complex will effectively purify industrial wastewater, significantly reduce the use of river water and reduce the load on the city’s communal infrastructure. I would like to note that Biosphere is an example of effective interaction between Russian developers and manufacturers of technology and equipment. 185 domestic companies participated in the project. This plant is one of the most powerful in Russia in its field,” said Dmitry Patrushev.

    The Deputy Prime Minister noted that over 135 billion rubles have been allocated for large-scale modernization of the Omsk Oil Refinery in recent years. As a result, the obligations under the federal project “Clean Air” have been almost completely fulfilled. Work in this area continues within the framework of the national project “Ecological Well-Being”.

    As part of his working visit, Dmitry Patrushev also held a meeting with the Governor of Omsk Region, Vitaly Khotsenko.

    “Omsk Oblast is an economically strong region of Siberia. Its development traditionally relies on the industrial sector, which accounts for more than 20% of the production structure. This is oil refining with petrochemistry, mechanical engineering, including defense engineering. The transport complex is of great importance. In addition, Omsk Oblast is one of the important agricultural regions of Siberia. The Russian Government allocated more than 2 billion rubles to the region in 2025 for the development of the agro-industrial complex and rural areas. The agricultural production index in Omsk Oblast in 2024 was 117%, which is a very high figure. The region produces significant volumes of grain and oilseeds. Further strengthening of its positions is certainly associated with the activities of the Strategy for the Socioeconomic Development of Siberia, which was approved by the Russian Government. A number of projects are being implemented in Omsk Oblast within its framework, which in the medium term will create more than a thousand jobs,” said Dmitry Patrushev.

    The Deputy Prime Minister noted that Omsk Region is actively involved in environmental protection activities. In the previous six years, about 8 billion rubles from the federal budget were allocated for this. This work continues within the framework of the national project “Environmental Well-Being”, the implementation of which began this year. Improvement of water bodies is also planned – for example, construction of a hydroelectric complex on the Irtysh has begun and cleaning of the riverbed is planned.

    Dmitry Patrushev paid special attention to monitoring the fulfillment of obligations in the field of solid municipal waste management. As part of his working visit, the Deputy Prime Minister also visited the Sovetskaya landfill reclamation facility in the region.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Alexander Novak held a meeting of the subcommittee on increasing the sustainability of the housing construction industry

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    Deputy Prime Minister Alexander Novak held the eleventh meeting of the subcommittee on increasing the stability of the financial sector and individual sectors of the economy, where the situation in the sphere of housing construction was discussed.

    The event was attended by Deputy Prime Minister Marat Khusnullin, Minister of Economic Development Maxim Reshetnikov, Minister of Energy Sergei Tsivilev, representatives of other federal government bodies, investment banks, organizations in the housing construction and coal industry sectors, as well as the Moscow city authorities.

    “This industry requires close attention. It is necessary to discuss the current situation, the progress of implementing decisions already made, as well as the advisability of taking additional support measures,” said Alexander Novak, opening the meeting.

    Participants examined in detail the dynamics of launching new projects, housing sales, issuing mortgage loans, as well as the financial and economic state of systemically important organizations operating in the industry.

    Following the discussion, the Deputy Prime Minister instructed the Ministry of Finance and the Ministry of Economic Development, together with the Ministry of Construction, to work out the measures presented at the meeting to ensure the sustainability of the construction industry.

    The members of the subcommittee also supported the initiative to expand the boundaries of the Bachatsky coal mine in the Kemerovo Region. This will allow maintaining the current level of energy coal production at the deposit and supporting the metallurgy market, whose enterprises consume the mine’s output.

    In addition, at the meeting, based on proposals from industry departments, targeted adjustments were made to the list of systemically important organizations of the Russian economy.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI: Delixy Holdings Limited Announces Pricing of Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    Singapore, July 08, 2025 (GLOBE NEWSWIRE) — Delixy Holdings Limited (the “Company” or “Delixy”), a Singapore-based company engaged in the trading of oil related products, today announced the pricing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares, par value US$0.000005 per share, (“Ordinary Shares”), 1,350,000 of which are being offered by the Company and 650,000 by the selling shareholders Mega Origin Holdings Limited (as to 325,000 Ordinary Shares) and Novel Majestic Limited (as to 325,000 Ordinary Shares) (the “Selling Shareholders”), at a public offering price of US$4.00 per Ordinary Share. The Company is also registering a resale prospectus concurrent with the Offering for the resale of 3,000,000 Ordinary Shares held by Cosmic Magnet Limited, Rosywood Holdings Limited, Dragon Circle Limited and Novel Majestic Limited, Golden Legend Ventures Limited (the “Resale Shareholders”). The Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 9, 2025 under the ticker symbol “DLXY.”

    The Company expects to receive aggregate gross proceeds of US$5.4 million from the Offering, before deducting underwriting discounts and other related expenses. The Company will not receive any proceeds from the sale of Ordinary Shares offered by the Selling Shareholders or Resale Shareholders in the Offering. The Offering is expected to close on or about July 10, 2025, subject to the satisfaction of customary closing conditions.

    Proceeds from the Offering will be used for: (i) expanding product offerings; (ii) strengthening market position; (iii) potentially making strategic acquisitions and business cooperations, including joint ventures and/or strategic alliances and (iv) general working capital and corporate purposes.

    The Offering is being conducted on a firm commitment basis. Bancroft Capital, LLC is acting as the sole lead underwriter for the Offering. Ortoli Rosenstadt LLP is acting as U.S. counsel to the Company, led by William S. Rosenstadt and Mengyi “Jason” Ye, and Nelson Mullins Riley & Scarborough LLP is acting as U.S. counsel to the Underwriters, led by W. David Mannheim, Ashley Wu and Kathryn Simons, in connection with the Offering.

    A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-283248), as amended, and was declared effective by the SEC on July 8, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, may be obtained from Bancroft Capital, LLC, 501 Office Center Drive, Suite 130, Fort Washington, PA 19034, or by telephone at +1 (484) 546-8000. In addition, copies of the final prospectus relating to the Offering, when available, may be obtained via the SEC’s website at www.sec.gov.

    Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

    About Delixy Holdings Limited

    Delixy Holdings Limited is a Singapore-based company principally engaged in the trading of oil-related products, including (i) crude oil and (ii) oil-based products such as fuel oils, motor gasoline, additives, gas condensate, base oils, asphalt, petrochemicals and naphtha (heavy gasoline). Operating across multiple countries in Southeast Asia, East Asia, and Middle East, Delixy has established a strong presence in the region’s oil trading markets. While Delixy maintains a diversified portfolio of oil products, crude oil trading represents a core aspect of its business. The Company leverages its strong existing relationships with customers and suppliers as well as deep industry expertise to provide value-added services, including tailored recommendations on optimal trading strategies and shipping and logistical support where required. In addition, the Company’s financing capabilities allow it to extend credit terms to customers while satisfying suppliers’ immediate payment terms. For more information, please visit the company’s website: https://ir.delixy.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company’s proposed offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Proposed Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Registration Statement and other filings with the SEC.

    For media inquiries, please contact:

    Delixy Holdings Limited
    Investor Relations Department
    Email: ir@delixy.com

    Ascent Investor Relations LLC
    Tina Xiao
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network –

  • MIL-OSI New Zealand: Finance – Comments from Leigh Hodgetts, country manager, Finance and Mortgage Advisers Association of New Zealand (FAMNZ)

    Source: Comments from Leigh Hodgetts, country manager, Finance and Mortgage Advisers Association of New Zealand (FAMNZ)

    Re: RBNZ interest rate decision – “Based on public commentary it does appear that the RBNZ will leave the OCR at 3.25 per cent, however we believe that a rate drop of .25 per cent now, and a similar decrease in August will benefit consumers. Ideally we’d like to see a cash rate of 3 per cent sooner rather than later.

    An interest rate reduction will bring immediate cost of living relief to Kiwis during these globally uncertain times of tariffs, global inflation and trade tensions, added to rising food costs and reports of increases in future inflation data and unemployment figures.  

    Finance and mortgage advisers are reporting that affordability still remains a significant challenge for homebuyers, particularly those trying to enter the market for the first time, while investors are not widely back in the market as yet. So every small rate drop helps.

    Currently the mortgage market is in a transitional phase, with rates easing and house values rebounding slowly. Advisers are receiving many questions around the loan structure, particularly fixed v variable or a split home loan.

    Our advice to consumers looking to purchase or refinance – irrespective of today’s OCR decision – is to consult a mortgage adviser first to discuss your individual circumstances. While the rate is very important, it is not the only factor to consider. You must look at what is best for your individual circumstances, and this is what your mortgage adviser can do. Banks are unable to do this as they are in the business of selling their products.

    Mortgage advisers also have access to specialist and non-bank lenders who can provide flexibility to those who need it, particularly those with unique borrowing circumstances or who are self-employed.”

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Finance – Comments from Leigh Hodgetts, country manager, Finance and Mortgage Advisers Association of New Zealand (FAMNZ)

    Source: Comments from Leigh Hodgetts, country manager, Finance and Mortgage Advisers Association of New Zealand (FAMNZ)

    Re: RBNZ interest rate decision – “Based on public commentary it does appear that the RBNZ will leave the OCR at 3.25 per cent, however we believe that a rate drop of .25 per cent now, and a similar decrease in August will benefit consumers. Ideally we’d like to see a cash rate of 3 per cent sooner rather than later.

    An interest rate reduction will bring immediate cost of living relief to Kiwis during these globally uncertain times of tariffs, global inflation and trade tensions, added to rising food costs and reports of increases in future inflation data and unemployment figures.  

    Finance and mortgage advisers are reporting that affordability still remains a significant challenge for homebuyers, particularly those trying to enter the market for the first time, while investors are not widely back in the market as yet. So every small rate drop helps.

    Currently the mortgage market is in a transitional phase, with rates easing and house values rebounding slowly. Advisers are receiving many questions around the loan structure, particularly fixed v variable or a split home loan.

    Our advice to consumers looking to purchase or refinance – irrespective of today’s OCR decision – is to consult a mortgage adviser first to discuss your individual circumstances. While the rate is very important, it is not the only factor to consider. You must look at what is best for your individual circumstances, and this is what your mortgage adviser can do. Banks are unable to do this as they are in the business of selling their products.

    Mortgage advisers also have access to specialist and non-bank lenders who can provide flexibility to those who need it, particularly those with unique borrowing circumstances or who are self-employed.”

    MIL OSI New Zealand News –

  • MIL-OSI Security: Felon who Conspired to Distribute Drugs and Possessed Firearms Sentenced to Over Twenty-Five Years in Federal Prison

    Source: Office of United States Attorneys

    A Cedar Rapids man who conspired to distribute controlled substance was sentenced July 7, 2025, to more than 25 years in federal prison.

    James Colquhoun, age 40, from Cedar Rapids, Iowa, received the prison term after a February 10, 2025, guilty plea to conspiracy to distribute a controlled substance after a prior conviction for a serious drug felony, carrying of a firearm during and in relation to a drug trafficking crime, and possession of a firearm in furtherance of a drug trafficking crime.

    Evidence at the plea and sentencing hearings showed that between January 2024 and February 13, 2024, Colquhoun knowingly conspired with others to distribute significant quantities of methamphetamine in the Cedar Rapids area.  On February 13, 2024, officers stopped Colquhoun’s vehicle and searched it.  During the search, officers located over 500 grams of methamphetamine, heroin, cocaine, over $25,000, and a firearm.  Colquhoun knowingly possessed those controlled substances with the intent to distribute them.  After the traffic stop, officers searched Colquhoun’s hotel room where he resided.  During the search of his hotel room, investigators located over 600 grams of heroin, over 50 grams of methamphetamine, and another firearm.  In 2014, Colquhoun was convicted in the United States District Court for the Northern District of Iowa of distribution of a controlled substance and possession of a firearm in furtherance of a drug trafficking crime and carrying a firearm during and relation to a drug trafficking crime.  

    Colquhoun was sentenced in Cedar Rapids by United States District Court Chief Judge C.J. Williams.  Colquhoun was sentenced to 336 months’ imprisonment.  He must also serve a 10-year term of supervised release after the prison term.  There is no parole in the federal system.

    Colquhoun is being held in the United States Marshal’s custody until he can be transported to a federal prison.

    The case was prosecuted by Assistant United States Attorney Dillan Edwards and Special Assistant United States Attorney Michael Hudson, and it was investigated by the Drug Enforcement Administration, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, Homeland Security Investigations, the Cedar Rapids Police Department, and the Marion Police Department.  

    Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl.

    The case file number is 24-CR-00029-001.

    Follow us on X @USAO_NDIA.

    MIL Security OSI –

  • MIL-OSI Security: Former Loan Officer Charged and Agrees to Plead Guilty to Million-Dollar Heloc Scheme

    Source: Office of United States Attorneys

    BOSTON – A former loan officer was charged and has agreed to plead guilty in connection with defrauding his employer out of almost $1 million.

    Brian Socha, 45, of Brookfield, has agreed to plead guilty to one count of bank fraud. A plea hearing has not yet been scheduled by the Court. 

    According to the charging document, Socha hacked into co-workers’ computers on over 20 occasions to covertly raise the credit limit and lower the interest rate on the home equity line of credit (HELOC) on the home he owned with his wife. Over a period of six years, Socha allegedly increased the HELOC credit limit from $135,500 to $995,000 and adjusted the HELOC interest rate from 7.25% to 1.99%.

    The charge of bank fraud provides for a sentence of up to 30 years in prison, five years of supervised release and a fine of up to $1 million. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

    United States Attorney Leah B. Foley and Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation Boston Division made the announcement. Assistant U.S. Attorney Caroline Merck of the Springfield Office is prosecuting the case.

    The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
     

    MIL Security OSI –

  • MIL-OSI Security: Woman sentenced for smuggling firearms into Mexico

    Source: Office of United States Attorneys

    BROWNSVILLE, Texas – A 38-year-old Georgia woman has been sentenced today for smuggling several firearms and magazines hidden in a vehicle’s gas tank, announced U.S. Attorney Nicholas J. Ganjei.

    Mirna Luna pleaded guilty April 1.

    U.S. District Judge Fernando Rodriguez Jr. has now handed Luna a 46-month term of imprisonment to be immediately followed by two years of supervised release. In handing down the sentence, the court noted the seriousness 0f trafficking of firearms.

    Luna traveled from her Canton, Georgia, residence Dec. 15, 2024, and attempted to cross at the Brownsville/Matamoros  port of entry into Mexico.

    Once there, authorities had referred her to secondary inspection where they discovered 17 firearms and 27 magazines hidden in the gas tank of the Nissan car she was driving.

    Luna claimed ownership of the car and admitted she is the only person who drives it. She does not have a license to export firearms and has not applied for one.

    She will remain in custody pending transfer to a Federal Bureau of Prisons facility to be determined in the near future.

    Immigration and Customs Enforcement – Homeland Security Investigations conducted the investigation. Assistant U.S. Attorneys Jose Esquivel and Ana Cano prosecuted the case. 

    MIL Security OSI –

  • MIL-OSI Security: New York Man Charged with Wire Fraud and Aggravated Identity Theft

    Source: Office of United States Attorneys

    NEWARK, N.J. – A New York man has been charged for engaging in a scheme to defraud multiple lenders by using the personally identifiable information of a Hudson County man to submit fraudulent loan applications to obtain hundreds of thousands of dollars of loans, U.S. Attorney Alina Habba announced.

    Humza Khan, 28, of New York, New York, is charged by complaint with one count of wire fraud and one count of aggravated identity theft. Khan appeared on July 2, 2025, before U.S. Magistrate Judge Stacey D. Adams in Newark federal court and was released on $100,000 unsecured bond.

    According to documents filed in this case and statements made in court:

    Around December 2020, Khan submitted loan applications to secure a $150,000 accounts receivable finance loan on behalf of a Florida-based specialty pharmacy in which Khan had a financial interest. Khan used the personal information of an elderly individual who lived in Hudson County, New Jersey—including their name and social security number—in the loan application without permission, in order to conceal that Khan was receiving the loan proceeds.  Based on those fraudulent misrepresentations, the victim lenders provided Khan with approximately $150,000. 

    The wire fraud charge carries a maximum penalty of 30 years in prison and a $1 million fine, or twice the gross gain or loss from the offense, whichever is greatest. The aggravated identity theft count carries an additional consecutive mandatory minimum term of two years in prison and a maximum fine of up to $250,000, or twice the gross gain or loss from the offense.

    U.S. Attorney Habba credited special agents of the U.S. Postal Inspection Service in Newark, under the direction of Inspector in Charge Christopher A. Nielsen, Philadelphia Division; special agents of the Internal Revenue Service – Criminal Investigation, under the direction of Special Agent in Charge Jenifer Piovesan in Newark; and special agents of the Federal Bureau of Investigation, under the direction of Acting Special Agent in Charge Stefanie Roddy, with the investigation leading to the charges.

    The government is represented by Assistant U.S. Attorney George Brandley of the Health Care Fraud and Opioids Enforcement Unit in Newark.

    The charge and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

                                                     ###

    Defense counsel:  Zach Intrater, Esq. and Daniela Manzi, Esq.

    MIL Security OSI –

  • MIL-OSI Security: South Bay CEO Sentenced For Employment Tax Crimes

    Source: Office of United States Attorneys

    SAN JOSE – A California man was sentenced today to a year and a day in prison for a decade-long scheme to avoid paying over employment taxes to the IRS.

    The following is according to court documents and statements made in court: John Comeau, of Santa Clara, was the CEO of Vivid Inc., a company that provided metal coating services to industrial customers in California and elsewhere. Vivid Inc. employed as many as 40 employees at any given time.

    Comeau was responsible for withholding Social Security, Medicare, and federal income taxes from the wages of Vivid’s employees and then paying those funds over to the IRS each quarter. The timely payment of these taxes is critical to the functioning of the U.S. government, because, for example, they are the primary source of funding for Social Security and Medicare. The federal income taxes that are withheld from employees’ wages also account for a significant portion of all federal income taxes collected each year.

    From the first quarter of 2010 through the fourth quarter of 2019, Vivid Inc. paid its employee a total of over $8.8 million in wages. During this period, Comeau collected and withheld taxes from the wages of Vivid’s employees but did not pay over all the taxes owed to the IRS. He also caused false quarterly employment tax returns to be filed with the IRS, underreporting Vivid’s wages by more than $5 million.

    To conceal his scheme, Comeau caused accurate tax forms to be issued to certain employees. These tax forms reported higher wages than the amounts Vivid had reported to the IRS. Comeau also issued tax forms, such as Wage and Tax Statement, Form W-2, to other Vivid employees that underreported their wages. When an employer underreports wages paid to their employees, it may negatively impact those employees’ Social Security benefits, as those forms are used by the Social Security Administration to compute benefits owed to an employee.

    Instead of paying his taxes, Comeau used some of the funds to maintain a comfortable lifestyle that included a $3 million home and luxury cars.

    In total, Comeau caused a tax loss to the United States of more than $1.1 million.

    In addition to the prison sentence, U.S. District Judge P. Casey Pitts ordered Comeau to serve three years of supervised release and pay $1,153,948 in restitution to the IRS.

    United States Attorney Craig H. Missakian, Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and IRS Criminal Investigation (IRS-CI) Oakland Field Office Special Agent in Charge Linda Nguyen made the announcement.

    IRS-CI investigated the case.

    Assistant U.S. Attorney Ilham Hosseini and Trial Attorney Mahana Weidler of the Tax Division prosecuted the case.

    MIL Security OSI –

  • MIL-OSI USA: What They Are Saying: Lankford Delivers Major Victory for Charitable Giving with Key Tax Provision in One Big Beautiful Bill

    US Senate News:

    Source: United States Senator for Oklahoma James Lankford
    WASHINGTON, DC — US Senator James Lankford (R-OK), Chairman of the Senate Values Action Team and a member of the Senate Finance Committee, secured an important policy provision for charitable giving in the One Big Beautiful Bill that passed the Senate and was signed into law last week. Lankford led efforts to restore and make permanent a tax deduction for non-itemizers up to $2,000 per couple. This change will enable more Americans to support churches, charities, and nonprofits that serve the most vulnerable.
    The provision restoring the non-itemizer deduction has earned strong support from leading charitable, faith-based, and nonprofit organizations nationwide, including the Charitable Giving Coalition, Faith and Giving, Christian Alliance for Orphans (CAFO), the Nonprofit Alliance, the Association of Fundraising Professionals, the Association of Art Museum Directors, the National Council of Nonprofits, the League of American Orchestras, the National Association of Charitable Gift Planners, Philanthropy Southwest, the Evangelical Council for Financial Accountability (ECFA), Mental Health Matters (MHM), the Council for Advancement and Support of Education (CASE), United Philanthropy Forum, the Ethics and Religious Liberty Commission (ERLC), and the Council for Christian Colleges and Universities (CCCU).
    “Permanently restoring and expanding the charitable deduction is a powerful policy change that will encourage additional giving,” said Brian Flahaven, Chair of the Charitable Giving Coalition. “Continuing to strengthen the charitable deduction in the Senate bill sends a clear message that encouraging private philanthropy is a national priority. The Coalition is immensely grateful to Senators James Lankford, Chris Coons, and our other bipartisan Senate champions for their unwavering commitment to America’s charities and the communities they serve.”
    “Faith and Giving is deeply grateful to Senator Lankford, Senate Finance Chairman Mike Crapo, and their colleagues for including a more robust charitable deduction for non-itemizers in the reconciliation package,” said Brian Walsh, Executive Director of Faith and Giving. “Giving by individuals is the financial lifeblood of many thousands of American faith-based organizations. Yet since 2018 giving to religion has fallen billions of dollars short of keeping pace with inflation. The temporary non-itemizer deduction incentivized substantial additional giving in 2020 and 2021. This larger and permanent non-itemizer charitable deduction will help stimulate even more giving by lower- and middle-income taxpayers to congregations and other faith-based organizations across the country.”
    “To honor and incentivize American generosity are among the most consequential investments we can make as a nation. Private giving fuels so much of what makes life good and beautiful in our communities – from education, arts, and the great outdoors to houses of worship that nurture faith, family, relationships and character,” said Jedd Medefind, President of the Christian Alliance for Orphans (CAFO). “Private giving also undergirds virtually every effort to give a hand-up to the hurting – both via financial support and, critically, in building communities of supporters whose hearts and volunteer service follow their giving. This is truly America at her best.”
    “The Nonprofit Alliance applauds the strong bipartisan support for the Charitable Act and Senator Lankford’s leadership on this important legislation to establish a permanent charitable deduction of up to $2,000,” said Shannon McCracken, President and CEO of The Nonprofit Alliance. “While giving from itemizers has continued to increase over the last several years, smaller contributions from everyday givers have declined. It is critically important to democratize giving and engage more Americans in the act of giving to support and sustain organizations across diverse cause areas – and the Charitable Act does that.”
    “Since the temporary charitable deduction for non-itemizers was allowed to expire in 2022, the Association of Fundraising Professionals’ Fundraising Effectiveness Project has reported a sustained decline in gifts from small donors, with a drop of 8.9% in 2024 alone,” said H. Art Taylor, President and CEO of the Association of Fundraising Professionals. “This trend of continued reliance solely on large-dollar donors is unsustainable for a healthy, resilient, charitable sector. A permanent charitable deduction for non-itemizers will help reverse this decline by empowering and incentivizing everyday Americans to give, ensuring that charitable giving remains broad-based, diverse, and reflective of all communities. On behalf of our more than 26,000 fundraising professional members that raise more than $115 billion annually for charities, we thank Senator Lankford and our other bipartisan Congressional champions for their leadership in championing the original Charitable Act to restore this proven giving incentive.”
    “The Association of Art Museum Directors thanks Senator Lankford for his tireless work to restore a meaningful tax incentive for all Americans to be generous,” said Christine Anagnos, Executive Director of the Association of Art Museum Directors. “Donations to art museums make possible free and reduced admissions, educational programs, and a host of community services. The permanent reestablishment of a significant tax deduction for gifts made by people who do not itemize will encourage the participation of donors from every economic and demographic category and ensure that charitable service extends to every sector.”
    “Nonprofits are the backbone of this country, providing critical support to improve local communities and save live,” said Diane Yentel, President and CEO of the National Council of Nonprofits. “These vital organizations are led by our neighbors who step up to fill the gaps unmet by government or the private sector. On behalf of the National Council of Nonprofits’ network of more than 33,000 nonprofit organizations, I applaud Senator Lankford’s leadership in enacting a universal charitable deduction to provide the American people with a new way to support the essential work of nonprofits and their ability to serve local communities.”
    “Charitable giving provides essential support for the live performances and educational programming provided by orchestras and nonprofit arts organizations nationwide,” said Simon Woods, President and CEO of the League of American Orchestras. “We are grateful to Senator Lankford for his leadership in advancing the permanent non-itemizer charitable deduction, which will fuel increased generosity by today’s donors and incentivize future generations to invest in the work of the nonprofit sector.”
    “We applaud Senator Lankford and his colleagues for including a permanent, non-itemizer charitable deduction in their reconciliation package,” said Michael Kenyon, President and CEO of the National Association of Charitable Gift Planners. “The deduction would be paid for by a modest floor on the itemized charitable deduction that will ensure all taxpayers are incentivized to give money away. We encourage Congress to ensure this increased and permanent deduction is included in the final version of the bill as we know once a donor starts to support a cause or organization, they are much more likely to continue giving in the future, instilling a habit of philanthropy that will drive more dollars to charity for years to come from a new generation of givers.”
    “The charitable deduction for non-itemizers is a vital step toward strengthening philanthropy by providing tax incentives that can help reverse declines in charitable giving and engagement,” said Tony Fundaro, President and CEO of Philanthropy Southwest. “Members of Philanthropy Southwest continue to face unprecedented needs in their communities, and the inclusion of this provision in the tax bill encourages giving at all levels, empowering more Americans to support nonprofits tackling our most pressing challenges. We are grateful to Senator Lankford for championing generosity in our communities, his leadership on the Charitable Act, and his commitment to supporting the charitable sector.”
    “I thank Senate Finance Committee Chairman Mike Crapo for including a non-itemizer charitable deduction in this legislation, and I greatly appreciate the work of leaders like Senator James Lankford and Senator Chris Coons to urge that this common-sense provision be made more robust and permanent,” said Michael Martin, President and CEO of the Evangelical Council for Financial Accountability (ECFA). “America is well-served by supporting habits of giving among all taxpayers—regardless of whether they itemize on their tax forms or not.”
    “I commend the efforts of policymakers who recognize the importance of making the charitable deduction permanent for non-itemizers,” said Dan Cosgrove, President and CEO of Mental Health Matters (MHM).“Encouraging generosity across all taxpayers strengthens our communities and fosters a culture of giving that benefits everyone. This provision ensures that acts of charity are rewarded, regardless of tax filing status, promoting fairness and compassion in our tax system.”
    “For more than a century, the charitable deduction has played a vital role in encouraging Americans to support the missions of schools, colleges, universities, and charitable organizations across the nation,” said Sue Cunningham, President and CEO of the Council for Advancement and Support of Education (CASE). “Yet, access to this incentive has long been limited to those who itemize their tax returns. The Senate’s proposal in the budget reconciliation bill to make the charitable deduction available to all taxpayers is a transformative step. If enacted, we believe that it would broaden participation in giving and strengthen the capacity of institutions to fund scholarships, support students, advance research, and serve their communities. We commend Senator James Lankford for his leadership and thoughtful engagement in making this a priority in the reconciliation bill, and we thank Senator Chris Coons and the bipartisan coalition of more than 20 Senators and 60 House members who continue to champion charitable giving as a cornerstone of civic life.”
    “As a proud partner in advocating for this critical policy, United Philanthropy Forum and our network of nearly 100 philanthropy-serving organizations have long championed modernizing giving incentives,” said Deborah Aubert Thomas, President and CEO of the United Philanthropy Forum. “Making the deduction permanent will create lasting pathways for everyday Americans to invest in the nonprofits that anchor their communities—from food banks to youth programs to places of worship. We thank Senator Lankford and colleagues for their leadership in ensuring that charitable giving remains a cornerstone of American civic life and accessible to all.”
    “Southern Baptists generously give to support missions, ministries, and most importantly, the works of their local church in commitment to the Great Commission,” said Brent Leatherwood, President of the Ethics and Religious Liberty Commission. “Recognizing the importance of charitable giving, Southern Baptists have consistently called for the government to implement policies that incentivize charitable giving to fuel these services. The ERLC is grateful for Senator Lankford’s tireless effort to enact a robust universal charitable deduction to encourage all taxpayers, including those that do not itemize their returns, to give generously.”
    “The Council for Christian Colleges and Universities is deeply grateful to the Senate for including an increase to the universal charitable deduction in the current reconciliation bill,” said the Council for Christian Colleges and Universities. “Our faith calls us to give — and our students learn to live generously by seeing that even small gifts can make a lasting difference. A universal charitable deduction doesn’t just support Christian higher education — it fosters a culture of generosity that supports communities. By expanding this deduction and ensuring inclusion in the final bill, the Senate is helping to sustain faith-based higher education for the next generation.”
    Background
    Lankford remains the leading voice in the Senate working to protect and expand charitable giving. In 2023, he introduced the bipartisan Charitable Act with Senator Chris Coons (D-DE) to restore and strengthen the non-itemized deduction for charitable contributions, allowing all taxpayers to deduct donations regardless of whether they itemize.
    He also introduced the Safeguarding Charity Act to protect the independence of tax-exempt organizations from burdensome federal regulations. The bill clarifies that tax-exempt status does not constitute federal financial assistance, shielding churches, nonprofits, and private schools from costly and unnecessary government overreach.

    MIL OSI USA News –

  • MIL-OSI: 1847 Holdings Initiates Transition to OTCQB Market Following NYSE American Delisting Decision

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 08, 2025 (GLOBE NEWSWIRE) — 1847 Holdings LLC (“1847” or the “Company”), a holding company specializing in identifying overlooked, deep-value investment opportunities in middle market businesses, today announced that it has initiated the process to transition the trading of its common shares to the OTCQB® Venture Market, operated by OTC Markets Group Inc. The Company has submitted an application for quotation, which is currently under review. An update and confirmation of the trading commencement date will be provided upon approval.

    “We are taking deliberate steps to ensure continued trading access and visibility for our shareholders,” said Ellery W. Roberts, CEO of 1847 Holdings. “We believe the OTCQB Market provides an efficient platform for companies like ours, and we intend to use this opportunity to continue strengthening our financial performance and balance sheet. Over the past year, we’ve delivered substantial improvements—revenue growth of more than 380% in Q1 2025, significant gross profit expansion, and meaningful debt reduction through strategic initiatives, including the divestiture of High Mountain Door & Trim Inc. for approximately $17 million and the sale of ICU Eyewear. We believe these actions underscore our disciplined approach to value creation and our strategy of acquiring, enhancing, and monetizing undervalued businesses. We are reaffirming our 2025 guidance of revenue expected to exceed $45 million and net income of approximately $1.3 million. For 2026, we anticipate revenue to surpass $60 million with net income rising to approximately $5.0 million. At the appropriate time, we plan to reapply for listing on a national securities exchange as we continue executing our strategy and building long-term shareholder value.”

    The Company’s application follows a determination by NYSE American to delist its common shares. As previously disclosed, the Company appealed the initial staff determination; however, on July 1, 2025, a Listing Qualifications Panel affirmed the decision to proceed with delisting. Trading on NYSE American has been suspended since April 3, 2025, and a Form 25 is expected to be filed with the U.S. Securities and Exchange Commission to formally complete the delisting process.

    Additional information, including the effective date of OTCQB quotation, will be provided as soon as practicable.

    About 1847 Holdings LLC

    1847 Holdings LLC (NYSE American: EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings’ investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as “solid” for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings’ ability to pay regular and special dividends to shareholders. For more information, visit www.1847holdings.com.

    For the latest insights, follow 1847 on Twitter.

    Forward-Looking Statements

    This press release may contain information about 1847 Holdings’ view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management’s beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in “Risk Factors” included in our SEC filings.

    Contact:
    Crescendo Communications, LLC
    Tel: +1 (212) 671-1020
    Email: EFSH@crescendo-ir.com

    The MIL Network –

  • MIL-OSI: Digital Wealth Partners Appoints Max Kahn as Chief Executive Officer

    Source: GlobeNewswire (MIL-OSI)

    Dallas, Texas, July 08, 2025 (GLOBE NEWSWIRE) — Digital Wealth Partners (www.digitalwealthpartners.net), a firm specializing in digital asset investment management, has announced the appointment of Max Kahn as its new Chief Executive Officer. Kahn transitions from his role as Chief Compliance Officer, where he played a pivotal role in shaping the company’s compliance framework and strategic direction.

    Digital Wealth Partners Appoints Max Kahn as Chief Executive Officer

    Jake Claver, Founder of Digital Wealth Partners, commented, “We’re genuinely excited to welcome Max as our new CEO. He brings a deep background in financial services, especially in areas tied to digital assets, which positions him well to lead us into this next chapter of progress and fresh thinking. Max has already had a noticeable impact through both his direction and the way he sees the bigger picture, and I’m confident he’ll keep pushing Digital Wealth Partners forward to new heights.”

    With over a decade of experience in financial services and business strategy, Max Kahn brings a wealth of expertise to his new role. Prior to joining Digital Wealth Partners, he served as Director of Strategy at Digital Asset Research and YieldX, where he spearheaded institutional partnerships, product launches, and compliance processes. Earlier in his career, he was Director of Futures Operations at National Securities Corporation, focusing on investment platform optimization and risk management. Kahn, a licensed securities professional, has managed significant portfolios across retail and institutional clients.

    At Digital Wealth Partners, Kahn has been instrumental in launching groundbreaking indexes and financial solutions, contributing thought leadership on digital asset strategies. In his new role as CEO, he will focus on scaling the company’s infrastructure, launching innovative products, and expanding its client base at the intersection of traditional and digital wealth management.

    “I am deeply honored to take on the role of Chief Executive Officer at Digital Wealth Partners,” said Max Kahn. “Since onboarding our first clients in late 2024, we have achieved remarkable growth, and I am excited to lead this talented team as we continue to innovate and serve our clients with integrity and purpose. This next chapter is about scaling with intention, serving with purpose, and continuing to lead with integrity in an evolving space. The work is already well underway, and I’m excited to keep building with this incredible team.”

    Max Kahn, CEO, Digital Wealth Partners

    About Digital Wealth Partners

    Digital Wealth Partners is a Registered Investment Advisory (RIA) that specializes in digital assets (crypto/blockchain) 

    Press inquiries

    Digital Wealth Partners
    https://www.digitalwealthpartners.net
    Max Avery
    max.avery@digitalwealthpartners.net
    307-396-0295

    The MIL Network –

  • MIL-OSI: Digital Wealth Partners Appoints Max Kahn as Chief Executive Officer

    Source: GlobeNewswire (MIL-OSI)

    Dallas, Texas, July 08, 2025 (GLOBE NEWSWIRE) — Digital Wealth Partners (www.digitalwealthpartners.net), a firm specializing in digital asset investment management, has announced the appointment of Max Kahn as its new Chief Executive Officer. Kahn transitions from his role as Chief Compliance Officer, where he played a pivotal role in shaping the company’s compliance framework and strategic direction.

    Digital Wealth Partners Appoints Max Kahn as Chief Executive Officer

    Jake Claver, Founder of Digital Wealth Partners, commented, “We’re genuinely excited to welcome Max as our new CEO. He brings a deep background in financial services, especially in areas tied to digital assets, which positions him well to lead us into this next chapter of progress and fresh thinking. Max has already had a noticeable impact through both his direction and the way he sees the bigger picture, and I’m confident he’ll keep pushing Digital Wealth Partners forward to new heights.”

    With over a decade of experience in financial services and business strategy, Max Kahn brings a wealth of expertise to his new role. Prior to joining Digital Wealth Partners, he served as Director of Strategy at Digital Asset Research and YieldX, where he spearheaded institutional partnerships, product launches, and compliance processes. Earlier in his career, he was Director of Futures Operations at National Securities Corporation, focusing on investment platform optimization and risk management. Kahn, a licensed securities professional, has managed significant portfolios across retail and institutional clients.

    At Digital Wealth Partners, Kahn has been instrumental in launching groundbreaking indexes and financial solutions, contributing thought leadership on digital asset strategies. In his new role as CEO, he will focus on scaling the company’s infrastructure, launching innovative products, and expanding its client base at the intersection of traditional and digital wealth management.

    “I am deeply honored to take on the role of Chief Executive Officer at Digital Wealth Partners,” said Max Kahn. “Since onboarding our first clients in late 2024, we have achieved remarkable growth, and I am excited to lead this talented team as we continue to innovate and serve our clients with integrity and purpose. This next chapter is about scaling with intention, serving with purpose, and continuing to lead with integrity in an evolving space. The work is already well underway, and I’m excited to keep building with this incredible team.”

    Max Kahn, CEO, Digital Wealth Partners

    About Digital Wealth Partners

    Digital Wealth Partners is a Registered Investment Advisory (RIA) that specializes in digital assets (crypto/blockchain) 

    Press inquiries

    Digital Wealth Partners
    https://www.digitalwealthpartners.net
    Max Avery
    max.avery@digitalwealthpartners.net
    307-396-0295

    The MIL Network –

  • MIL-OSI: Digital Wealth Partners Appoints Max Kahn as Chief Executive Officer

    Source: GlobeNewswire (MIL-OSI)

    Dallas, Texas, July 08, 2025 (GLOBE NEWSWIRE) — Digital Wealth Partners (www.digitalwealthpartners.net), a firm specializing in digital asset investment management, has announced the appointment of Max Kahn as its new Chief Executive Officer. Kahn transitions from his role as Chief Compliance Officer, where he played a pivotal role in shaping the company’s compliance framework and strategic direction.

    Digital Wealth Partners Appoints Max Kahn as Chief Executive Officer

    Jake Claver, Founder of Digital Wealth Partners, commented, “We’re genuinely excited to welcome Max as our new CEO. He brings a deep background in financial services, especially in areas tied to digital assets, which positions him well to lead us into this next chapter of progress and fresh thinking. Max has already had a noticeable impact through both his direction and the way he sees the bigger picture, and I’m confident he’ll keep pushing Digital Wealth Partners forward to new heights.”

    With over a decade of experience in financial services and business strategy, Max Kahn brings a wealth of expertise to his new role. Prior to joining Digital Wealth Partners, he served as Director of Strategy at Digital Asset Research and YieldX, where he spearheaded institutional partnerships, product launches, and compliance processes. Earlier in his career, he was Director of Futures Operations at National Securities Corporation, focusing on investment platform optimization and risk management. Kahn, a licensed securities professional, has managed significant portfolios across retail and institutional clients.

    At Digital Wealth Partners, Kahn has been instrumental in launching groundbreaking indexes and financial solutions, contributing thought leadership on digital asset strategies. In his new role as CEO, he will focus on scaling the company’s infrastructure, launching innovative products, and expanding its client base at the intersection of traditional and digital wealth management.

    “I am deeply honored to take on the role of Chief Executive Officer at Digital Wealth Partners,” said Max Kahn. “Since onboarding our first clients in late 2024, we have achieved remarkable growth, and I am excited to lead this talented team as we continue to innovate and serve our clients with integrity and purpose. This next chapter is about scaling with intention, serving with purpose, and continuing to lead with integrity in an evolving space. The work is already well underway, and I’m excited to keep building with this incredible team.”

    Max Kahn, CEO, Digital Wealth Partners

    About Digital Wealth Partners

    Digital Wealth Partners is a Registered Investment Advisory (RIA) that specializes in digital assets (crypto/blockchain) 

    Press inquiries

    Digital Wealth Partners
    https://www.digitalwealthpartners.net
    Max Avery
    max.avery@digitalwealthpartners.net
    307-396-0295

    The MIL Network –

  • MIL-OSI USA: Remarks of Commissioner Kristin N. Johnson at George Washington University

    Source: US Commodity Futures Trading Commission

    Thank you to the George Washington University Regulatory Studies Center, Roger Nober, Susan Dudley, and the organizers of today’s event for allowing me to join virtually. As many of you are aware, I have spent the last several years engaging regulators and market participants from jurisdictions around the world on issues at the core of today’s discussion.[1]
    How might advances in artificial intelligence (AI) increase inclusion and customer experiences and democratize access to financial services, improve the accuracy and efficiency of financial services, and potentially reduce transaction costs as well as the costs of compliance? 
    These issues, among several other potential benefits and risks associated with the adoption of innovative technologies, are top of mind for me and many other senior regulators, chief executive officers, chief technology officers, chief information security officers, chief compliance officers, and chief risk managers around the world.
    According to an International Monetary Fund paper exploring the benefits and risks of AI in finance, AI and machine learning (ML) technologies alongside other
    [r]ecent technological advances in computing and data storage power, big data, and the digital economy are facilitating rapid AI/ML deployment in a wide range of sectors, including finance. The COVID-19 crisis has accelerated the adoption of these systems due to the increased use of digital channels.
    AI/ML systems are changing the financial sector landscape. Competitive pressures are fueling rapid adoption of AI/ML in the financial sector by facilitating gains in efficiency and cost savings, reshaping client interfaces, enhancing forecasting accuracy, and improving risk management and compliance. AI/ML systems also offer the potential to strengthen prudential oversight and to equip [regulators]  with new tools. . . .[2]
    Indisputably, AI is rapidly transforming the financial sector, particularly in the areas of compliance, market surveillance, and regulatory enforcement. What once seemed the creative imaginings of science fiction or fantasy novels and films—forward-looking notions of a futuristic world—has now become a practical and increasingly essential tool across the financial market ecosystem. Market participants and regulators alike are leveraging AI and ML to improve risk management, detect misconduct, and strengthen the integrity of the markets.
    Let’s explore the use of AI in compliance, bad actors’ potential misuse of AI, opportunities for supervisory technology (suptech) in enforcement, and a path forward.
    AI and Industry Compliance
    Financial institutions have been at the forefront of AI adoption, especially in compliance functions. AI is widely used in anti-money laundering (AML) efforts, where algorithms analyze transaction patterns across millions of credit card statements, bank statements, and account details to detect anomalies that may go unnoticed by traditional systems. ML models have dramatically reduced false positives in AML alerts[3]; this has long been a challenge for compliance teams who may now rely on AI to learn by reviewing training data and distinguish between benign and suspicious activity more precisely and more efficiently.
    AI also supports compliance with complex cross-border financial regulations. Financial services firms deploy ML to monitor transactions for potential sanctions violations, helping ensure that transactions align with regulatory requirements based on origin, amount, frequency, and other risk factors.[4]
    Some firms have also embraced AI in communications surveillance, using platforms that offer digital communications governance to review internal communications for signs of fraud or misconduct. By automating these reviews, firms are better equipped to identify red flags early and maintain robust compliance programs.
    A recent Government Accountability Office (GAO) report released in May of 2025—Artificial Intelligence: Use and Oversight in Financial Services—identifies six increasingly common activities for which financial services firms may choose to integrate AI models, including automated trading, countering threats and illicit finance, credit decisions, customer service, investment decisions, and risk management.[5]
    The GAO report indicated that AI may be used to “detect and mitigate cyber threats through real-time investigation of potential attacks, flagging and blocking of new ransomware, and identification of compromised accounts and files” as well as to “identify fake IDs, recognize different photos of the same person, and screen clients against sanctions and other lists; analyze transaction data … and unstructured data (such as email, text, and audio data) to detect evidence of possible money laundering, terrorist financing, bribery, tax evasion, insider trading, market manipulation, and other fraudulent or illegal activities.”[6]
    For many of these use cases, financial services firms rely on generative AI. However, for use cases that require a high degree of reliability or explainability—the ability to understand how and why an AI system produces decisions, predictions, or recommendations—firms are rightly reticent to employ generative AI models.
    Regulators Use of AI for SupTech 
    The benefits of AI are not limited to the private sector. U.S. regulatory agencies—including the Commodity Futures Trading Commission (CFTC), the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), the Securities and Exchange Commission (SEC), and the National Credit Union Administration (NCUA)—have begun integrating AI tools into their supervisory functions.
    These agencies use AI to analyze vast quantities of financial data, identify outliers, and detect emerging risks.[7] For example, AI can flag inconsistencies in data submissions from financial institutions, or surface patterns that indicate potential regulatory violations. This use of AI, often referred to as “suptech” (supervisory technology), enhances regulators’ ability to carry out their oversight responsibilities efficiently and proactively.
    Over the course of last year, the CFTC undertook extraordinary efforts to begin to clarify the Commission’s understanding of registrants’ use of AI and the potential benefits and limitations of the Commission’s implementation of AI for supervisory, surveillance, and enforcement purposes. In January of 2024, I worked with Commission staff to issue a Request for Comment distributed to our market participants to better understand the real-time adoption of AI models.[8] Following the Request for Comment, in December of 2024, the Commission issued a staff advisory on Use of Artificial Intelligence in CFTC-Regulated Markets.[9] One of the most significant takeaways from the staff advisory, which was echoed in executive orders issued by the prior administration, underscore the obligation for CFTC-regulated entities to maintain compliance with applicable statutory and regulatory requirements whether they choose to deploy AI or any other technology.
    Addressing the Dark Side of AI
    While AI has the potential to enhance compliance and supervision, it also introduces new risks. Alongside the promise of AI, we must consider the limitations and potential perils of implementing AI quickly without appropriate guardrails. Many of you in the room today, former Commissioner Berkovitz and Professor Cary Coglianese, among others, have participated in joint studies published by the Administrative Conference of the United States (ACUS) or independently published or presented on these limits. 
    In previous speeches, I have outlined concerns regarding the implementation of AI models without effective guardrails and governance interventions. 
    In a speech earlier this summer, I began to explore the specific concerns that may emerge as firms and regulators integrate agentic AI.[10] The discussion today, in fact, may largely focus on the integration of agentic AI models in compliance, surveillance, and enforcement. If so, I am hopeful that, in parallel to efforts to explore the benefits, panelists examining “AI’s Role in Regulation Post-Chevron” and “Regulatory Functions Most Amenable to AI-Drive Process Improvement” will also examine important concerns such as the limits of synthetic data, ghosts or hallucinations, data leakage, increasingly undetectable video and voice deepfakes, data accuracy, data security, and data integrity, among others.
    Some bad actors are paving the road for regulators and enforcement actions using AI technology. . But, in many cases, the bad actions are simply traditional, garden variety fraud with an AI white-label. 
    “AI washing”—the practice of exaggerating or misrepresenting AI capabilities to attract investors or customers[11]—is among the most concerning marketing and solicitation issues that financial market regulators currently face. Firms may claim to use advanced AI models to generate high returns when, in reality, they rely on rudimentary trading bots or nonexistent systems.[12]
    Enforcement in Action
    The CFTC has actively pursued enforcement actions against fraudulent actors who misuse or misrepresent AI. In a landmark case, the Commission obtained a $1.7 billion penalty—its largest ever—against a South African company that defrauded investors through a fraudulent multilevel marketing scheme.[13] The company falsely claimed to use a proprietary AI trading bot to generate high returns on Bitcoin investments. In reality, there was no proprietary trading bot and the firm engaged in minimal trading activity, most of which was unprofitable, and misappropriated investor funds.
    This and other cases underscore the CFTC’s ability to tackle AI-related misconduct using existing legal tools. The Commodity Exchange Act (CEA) provides a robust and flexible framework that prohibits fraudulent and manipulative practices regardless of the underlying technology. For example, CEA Section 4c(a) outlaws disruptive practices such as spoofing,[14] while CEA Section 6(c)(1) and Regulation 180.1 give the Commission broad anti-fraud and anti-manipulation authority.[15] These provisions are intentionally technology-neutral, allowing the CFTC to remain agile as new innovations emerge.
    The Commission has demonstrated, through its prior enforcement actions, that markets and market participants engaged in activities that are regulated by the Commission are expected to comply with applicable statutory and regulatory requirements, even when such activities occur with cryptocurrencies or through the use of AI. The technology-neutral approach of the CEA and CFTC regulations allows these provisions to be used to combat fraud in any shape, manner, or form.
    The Strategic Importance of Suptech
    A recent survey by the Financial Stability Institute (FSI) and the Bank for International Settlements Innovation Hub found that only 3 out of 50 supervisory authorities surveyed did not have ongoing suptech initiatives.[16] Those with a comprehensive suptech strategy were significantly more likely to deploy tools critical to supervision.[17]
    This underscores the importance of not only embracing AI on a case-by-case basis, but also developing cohesive strategies for integrating AI into regulatory and supervisory workflows. By investing in data infrastructure, fostering inter-agency collaboration, and recruiting AI-savvy talent, regulators can better equip themselves to meet the demands of increasingly complex markets.
    Finding a Pathway Forward
    I am looking forward to exploring the following principles and their role in our principles-based regulatory framework that I outlined in a speech last year. [18] As I have previously explained, there are many things that the Commission can do immediately to enhance our understanding of AI and help guide the development of effective guardrails that foster responsible development of AI.[19]
    Heightened Penalties
    As a CFTC Commissioner, I am also deeply concerned about the potential for abuse of AI technologies to facilitate fraud in our markets. As we examine the development of and limitations on the legitimate uses of AI in our markets, it is also important for the CFTC to emphasize that any misuse of these technologies will draw sharp penalties.
    In fact, I continue to call for the Commission to consider introducing heightened penalties for those who intentionally use AI technologies to engage in fraud, market manipulation, or the evasion of our regulations.
    In many instances, our statutes provide for heightened civil monetary penalties where appropriate.
    I propose that the use of AI in our markets to commit fraud and other violations of our regulations may, in certain circumstances, warrant a heightened civil monetary penalty.
    Bad actors who would use AI to violate our rules must be put on notice and sufficiently deterred from using AI as a weapon to engage in fraud, market manipulation, or to otherwise disrupt the operations or integrity of our markets. We must make it clear that the lure of using AI to engage in new malicious schemes will not be worth the cost.
    Recommendation for an Inter-Agency Task Force
    At the end of 2023, the previous administration announced the creation of an AI Safety Institute, which was to be established within the National institute of Standards and Technology (NIST), housed within the Commerce Department.[20]
    Shortly thereafter, I proposed the creation of an inter-agency task force composed of financial regulators including the CFTC, SEC, Federal Reserve, Office of the Comptroller of the Currency, Consumer Financial Protection Bureau, FDIC, Federal Housing Finance Agency, and NCUA to develop guidelines, tools, benchmarks, and best practices for the use and regulation of AI in the financial services industry.[21]
    Addressing the perils of AI, while harnessing its promise, is a challenge that will require a whole-of-government approach, with regulators working together across diverse agencies. I continue to advocate for agencies working together to provide their essential experience and expertise to help guide the development of AI standards for the financial industry.
    Conclusion
    The CFTC, in particular, is well positioned to lead in this space. Its principles-based and technology-neutral approach to regulation allows for flexible oversight that supports innovation while safeguarding market integrity. The Commission’s mission—to foster open, transparent, competitive, and financially sound markets—naturally aligns with the adoption of cutting-edge technology.
    AI is no longer a futuristic concept—it is a central feature of modern financial markets. Used responsibly, AI enhances compliance, improves oversight, and enables faster and more effective enforcement. The CFTC’s technology-neutral framework allows it to keep pace with innovation while maintaining essential investor protections and market integrity.
    Thanks again for allowing me to share my thoughts with you today. I anticipate you will have an energetic, generative, and thoughtful discussion on the panels and following the presentations this afternoon.

    [1] The views I share today are my own and not the views of the Commission, my fellow Commissioners or the CFTC staff.

    [7] Id. at 33, 35.

    [14] 7 U.S.C. § 6c(a).

    [15] 7 U.S.C. § 9(1); 17 C.F.R. § 180.1.

    MIL OSI USA News –

  • MIL-OSI: High Income Securities Fund Announces Monthly Distributions For Third Quarter of 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 08, 2025 (GLOBE NEWSWIRE) — High Income Securities Fund (NYSE: PCF) (the “Fund”) has announced that the Fund’s Board of Trustees (the “Board”) has declared the next three monthly distributions under the Fund’s managed distribution plan.

    Under the Fund’s managed distribution plan, the Fund intends to make monthly distributions to common stockholders at an annual rate of 10% (or 0.8333% per month) for 2025, based on the net asset value of $7.11 of the Fund’s common shares as of December 31, 2024.

    The next three distributions declared under the managed distribution plan are as follows:

    Month Rate Record Date Payable Date
    July  $0.0593 July 22, 2025 July 31, 2025
    August  $0.0593 August 19, 2025 August 29, 2025
    September  $0.0593 September 16, 2025 September 30, 2025
           

    The Fund will issue a notice to stockholders that will provide an estimate of the composition of each distribution. For tax reporting purposes the actual composition of the total amount of distributions for each year will continue to be provided on a Form 1099-DIV issued after the end of the year.

    Contacts

    For information, please contact:
    Thomas Antonucci, Bulldog Investors LLP (tantonucci@bulldoginvestors.com)

    The MIL Network –

  • MIL-OSI: DRML Miner Unveils Zero-Fee Cloud Mining to Supercharge Bitcoin & Litecoin Profits

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 08, 2025 (GLOBE NEWSWIRE) — The crypto space just got more exciting. DRML Miner has launched a groundbreaking zero-fee cloud mining service for Bitcoin and Litecoin. Unlike typical platforms that sneak in costs, DRML Miner ensures everything you earn stays in your wallet. This new model is reshaping the way investors look at mining. For those eager to build serious crypto wealth, this might be the opportunity you’ve been waiting for.

    Why Zero Fees Make All the Difference

    Traditional mining services often chip away at your earnings with endless fees. Maintenance costs, power charges, and platform cuts can shrink your returns by more than half. DRML Miner flips the script. With no hidden costs, every satoshi or lite you mine is yours. This small change has a massive impact, maximizing profits and making mining more attractive than ever.

    Capitalize on Bitcoin and Litecoin’s Growth

    Bitcoin continues to dominate headlines. Investors worldwide see it as the gold standard of digital assets. Meanwhile, Litecoin remains a strong player, known for faster transaction speeds and lower fees. As global adoption of crypto grows, these coins are positioned for even greater demand. DRML Miner’s service makes mining these valuable assets simple and rewarding.

    No Hardware, No Hassles, Just Pure Mining

    Forget bulky rigs, noisy fans, or sky-high electricity bills. With DRML Miner’s cloud solution, you don’t need to own or maintain a single machine. All mining takes place on their secure servers, leaving you free from tech headaches. Whether you’re on vacation or asleep, your mining continues around the clock, growing your digital portfolio effortlessly.

    Secure and Transparent From Day One

    Security is crucial in crypto. DRML Miner backs its platform with top-tier encryption, secure wallet integrations, and 24/7 monitoring. Investors get full access to detailed dashboards, showing exactly how much Bitcoin and Litecoin they’re mining in real-time. No confusing reports, no vague figures. Complete transparency builds trust, and DRML Miner has made that a cornerstone of its operations.

    Get a $10 Reward Instantly Upon Registration

    Kickstart your mining journey with a $10 bonus just for signing up! DRML Miner rewards every new user with a $10 registration bonus, making it even easier to start mining without any initial investment. It’s a risk-free way to explore cloud mining and start earning from day one.

    Easy Start for Newcomers and Power Tools for Pros

    Never mined before? No problem. DRML Miner’s interface is built to be beginner-friendly. Clear instructions guide you through account setup, plan selection, and starting your mining journey in minutes. If you’re already an experienced investor, advanced analytics and optimization tools give you the edge to push your earnings even further. It’s a platform that grows with your skill level.

    Scale Up Without the Usual Expenses

    One of the biggest barriers to traditional mining is the steep cost of scaling. Want to double your output? Usually, that means buying double the rigs and paying double the electric bill. DRML Miner’s cloud solution changes this entirely. With a few clicks, you can increase your mining power instantly, without worrying about extra hardware or operational nightmares. It’s mining on your terms.

    Perfect Timing as Crypto Adoption Soars

    Crypto is no longer a fringe market. Institutional investors, payment platforms, and even governments are recognizing its value. Bitcoin’s supply cap and Litecoin’s growing use case make them strong long-term bets. By mining today, you’re not just earning coins — you’re positioning yourself ahead of future demand. DRML Miner’s zero-fee approach ensures more of that value lands in your pocket.

    Real Investors, Real Results

    Thousands of users have already jumped on board with DRML Miner’s zero-fee cloud mining. Some are everyday people growing their first crypto nest egg. Others are seasoned investors adding another powerful income stream. Testimonials highlight steady returns, excellent customer support, and the relief of not dealing with hardware failures. These stories underline why zero-fee mining is quickly becoming the preferred choice.

    Customer Support That’s Actually There

    Many platforms promise help but vanish when issues arise. DRML Miner prides itself on responsive, friendly support teams ready to assist any time. Whether you have a quick question about your dashboard or need help scaling your mining plan, their team is just a message away. This level of service builds confidence, especially for those new to the crypto scene.

    Seize This New Era of Mining

    Cloud mining is already a smart alternative to traditional setups. DRML Miner takes it a step further by removing fees entirely. That’s more money in your pocket and a much simpler path to growing your digital assets. The days of worrying about rig failures, electricity spikes, or service cuts are over.

    Conclusion: Start Mining and Build Wealth

    DRML Miner’s zero-fee cloud mining isn’t just another crypto service — it’s a complete shift in how investors approach building wealth with Bitcoin and Litecoin. You get higher profits, unmatched flexibility, and total peace of mind, all underpinned by cutting-edge security and hands-on support. If you’re ready to strengthen your crypto portfolio, there’s no better time. Sign up with https://drmlminers.com/ today and watch your crypto journey take off.

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or a trading recommendation. Cryptocurrency mining and staking involve risks and may result in loss of funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI: DRML Miner Unveils Zero-Fee Cloud Mining to Supercharge Bitcoin & Litecoin Profits

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 08, 2025 (GLOBE NEWSWIRE) — The crypto space just got more exciting. DRML Miner has launched a groundbreaking zero-fee cloud mining service for Bitcoin and Litecoin. Unlike typical platforms that sneak in costs, DRML Miner ensures everything you earn stays in your wallet. This new model is reshaping the way investors look at mining. For those eager to build serious crypto wealth, this might be the opportunity you’ve been waiting for.

    Why Zero Fees Make All the Difference

    Traditional mining services often chip away at your earnings with endless fees. Maintenance costs, power charges, and platform cuts can shrink your returns by more than half. DRML Miner flips the script. With no hidden costs, every satoshi or lite you mine is yours. This small change has a massive impact, maximizing profits and making mining more attractive than ever.

    Capitalize on Bitcoin and Litecoin’s Growth

    Bitcoin continues to dominate headlines. Investors worldwide see it as the gold standard of digital assets. Meanwhile, Litecoin remains a strong player, known for faster transaction speeds and lower fees. As global adoption of crypto grows, these coins are positioned for even greater demand. DRML Miner’s service makes mining these valuable assets simple and rewarding.

    No Hardware, No Hassles, Just Pure Mining

    Forget bulky rigs, noisy fans, or sky-high electricity bills. With DRML Miner’s cloud solution, you don’t need to own or maintain a single machine. All mining takes place on their secure servers, leaving you free from tech headaches. Whether you’re on vacation or asleep, your mining continues around the clock, growing your digital portfolio effortlessly.

    Secure and Transparent From Day One

    Security is crucial in crypto. DRML Miner backs its platform with top-tier encryption, secure wallet integrations, and 24/7 monitoring. Investors get full access to detailed dashboards, showing exactly how much Bitcoin and Litecoin they’re mining in real-time. No confusing reports, no vague figures. Complete transparency builds trust, and DRML Miner has made that a cornerstone of its operations.

    Get a $10 Reward Instantly Upon Registration

    Kickstart your mining journey with a $10 bonus just for signing up! DRML Miner rewards every new user with a $10 registration bonus, making it even easier to start mining without any initial investment. It’s a risk-free way to explore cloud mining and start earning from day one.

    Easy Start for Newcomers and Power Tools for Pros

    Never mined before? No problem. DRML Miner’s interface is built to be beginner-friendly. Clear instructions guide you through account setup, plan selection, and starting your mining journey in minutes. If you’re already an experienced investor, advanced analytics and optimization tools give you the edge to push your earnings even further. It’s a platform that grows with your skill level.

    Scale Up Without the Usual Expenses

    One of the biggest barriers to traditional mining is the steep cost of scaling. Want to double your output? Usually, that means buying double the rigs and paying double the electric bill. DRML Miner’s cloud solution changes this entirely. With a few clicks, you can increase your mining power instantly, without worrying about extra hardware or operational nightmares. It’s mining on your terms.

    Perfect Timing as Crypto Adoption Soars

    Crypto is no longer a fringe market. Institutional investors, payment platforms, and even governments are recognizing its value. Bitcoin’s supply cap and Litecoin’s growing use case make them strong long-term bets. By mining today, you’re not just earning coins — you’re positioning yourself ahead of future demand. DRML Miner’s zero-fee approach ensures more of that value lands in your pocket.

    Real Investors, Real Results

    Thousands of users have already jumped on board with DRML Miner’s zero-fee cloud mining. Some are everyday people growing their first crypto nest egg. Others are seasoned investors adding another powerful income stream. Testimonials highlight steady returns, excellent customer support, and the relief of not dealing with hardware failures. These stories underline why zero-fee mining is quickly becoming the preferred choice.

    Customer Support That’s Actually There

    Many platforms promise help but vanish when issues arise. DRML Miner prides itself on responsive, friendly support teams ready to assist any time. Whether you have a quick question about your dashboard or need help scaling your mining plan, their team is just a message away. This level of service builds confidence, especially for those new to the crypto scene.

    Seize This New Era of Mining

    Cloud mining is already a smart alternative to traditional setups. DRML Miner takes it a step further by removing fees entirely. That’s more money in your pocket and a much simpler path to growing your digital assets. The days of worrying about rig failures, electricity spikes, or service cuts are over.

    Conclusion: Start Mining and Build Wealth

    DRML Miner’s zero-fee cloud mining isn’t just another crypto service — it’s a complete shift in how investors approach building wealth with Bitcoin and Litecoin. You get higher profits, unmatched flexibility, and total peace of mind, all underpinned by cutting-edge security and hands-on support. If you’re ready to strengthen your crypto portfolio, there’s no better time. Sign up with https://drmlminers.com/ today and watch your crypto journey take off.

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or a trading recommendation. Cryptocurrency mining and staking involve risks and may result in loss of funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network –

  • MIL-OSI: Orezone Reports Q2-2025 Production and Hard Rock Expansion Update

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, July 08, 2025 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (the “Company” or “Orezone”) is pleased to announce its Q2-2025 gold production results and stage 1 hard rock expansion construction update at its Bomboré Gold Mine. All dollar amounts are in USD unless otherwise indicated and abbreviation “M” means million.   

    Q2-2025 Production Results

    • Gold production of 27,548 ounces
    • Gold sales of 28,265 ounces at a realized price of $3,338 per ounce for revenue of $94.3M
    • Cash balance of $72.6M with available liquidity (cash and undrawn debt) of $103.9M at June 30, 2025. Senior debt at June 30, 2025 of $65.3M after principal repayments of $5.2M and foreign exchange movements in the quarter

    Stage 1 Hard Rock Construction Update

    • Construction of the stage 1 hard rock expansion remains on schedule and on budget with mill commissioning and first gold pour slated for Q4-2025
    • Engineering and procurement now complete
    • Dump pocket and jaw crusher foundation significantly advanced
    • SAG mill foundation complete, with SAG mill installation commenced
    • CIL tank installation complete, with structural steel installation now underway
    • Several mining areas for hard rock mining have now been readied in preparation for commencement of hard rock mining later this year
    • Construction of explosives magazine, in support of future hard rock blasting, now complete

    Patrick Downey, President & CEO stated, “Q2 was another solid operating quarter at Bomboré, with gold production in line with plan. The Company remains well-positioned to achieve its 2025 production guidance of 115,000-130,000 ounces, with Q4 expected as the strongest quarter.

    During Q2, the Company made material progress advancing the stage 1 hard rock expansion and upon its nearby completion, will mark a material transformation in the Bomboré operation, with forecasted gold production set to increase by approximately 45% to 170,000-185,000 ounces in 2026.

    Further positioning the Company for a significant transformation, Orezone has advanced (1) its application for a secondary listing on the Australian Securities Exchange (“ASX”), with official listing expected in mid-August, and (2) its plans to accelerate the stage 2 hard rock expansion to an upsized 5.5 million tonnes per annum (“Mtpa”) operation two years ahead of schedule (see February 23, 2025 news release). While subject to final Board approval, the stage 2 expansion is projected to increase the overall gold production at Bomboré to 220,000-250,000 ounces per year.”

    Bomboré Q2-2025 Production Results (100% Basis)

      Unit Q2-2025   Q1-2025   Six Months Ended
    June 30, 2025    		  
    Ore processed Tonnes 1,565,022   1,511,303   3,076,325  
    Ore grade Au g/t 0.62   0.67   0.65  
    Plant recovery % 87.8   87.9   87.8  
    Gold produced Au oz 27,548   28,688   56,236  
                   

    Hard Rock Plant Expansion Overview

    The 2.5Mtpa stage 1 hard rock expansion is designed to process higher-grade hard rock ore. The expansion is independent of the adjacent 6.0Mtpa oxide plant but will utilize a number of shared services and infrastructure including the tailings storage facility, warehouses, administration complex, and technical services. The concentrated scope of the brownfield expansion significantly reduces schedule and budget risk in comparison to a new build, with the ramp-up to benefit from the well-established mining, processing, and maintenance teams onsite.

    This stage 1 expansion is scheduled for commissioning in Q4-2025 and as with the oxide plant, which had a nameplate capacity of 5.2Mtpa, the Company views the potential to achieve significantly better throughput rates than that of the 2.5Mtpa stage 1 design.

    With the strong price of gold, the Company continues to evaluate the timing of the stage 2 hard rock expansion, which will increase the nameplate throughput to 5.5Mtpa, yielding a forecasted overall production profile of 225,000-250,000 ounces per year. With a 5.5Mtpa jaw crusher currently being installed in stage 1, the stage 2 expansion will primarily consist of a ball mill, pebble crusher, thickener, four additional CIL tanks and a gold room upgrade. The stage 1 design and layout were made to easily accommodate these stage 2 additions.

    Figure 1: Bomboré Processing Complex – Hard Rock Plant Layout (blue labels) Relative to Oxide Plant and Other Established Infrastructure (white labels)

    Figure 2: Stage 1 Hard Rock Expansion – Major Plant Component Construction

    Contact Information

    Patrick Downey
    President and Chief Executive Officer

    Kevin MacKenzie
    Vice President, Corporate Development and Investor Relations

    Tel: 1 778 945 8977
    info@orezone.com / www.orezone.com

    For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.

    The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

    Qualified Persons

    The scientific and technical information in this news release was reviewed and approved by Mr. Rob Henderson, P. Eng, Vice-President of Technical Services and Mr. Dale Tweed, P. Eng., Vice-President of Engineering, both of whom are Qualified Persons as defined under NI 43-101 – Standards of Disclosure for Mineral Projects.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains certain information that may constitute “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”).  Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur.  Forward-looking statements in this press release include, but are not limited to, statements that Orezone is positioned for a transformational 2025, the Company is positioned well to achieve its 2025 production guidance of 115,000-130,000 ounces, the target of listing on the ASX in mid-August 2025, the construction of the stage 1 hard rock expansion is well advanced with completion and commissioning set for Q4-2025 and once commissioned, will increase annual production by approximately 45%, the potential greater capacity than the 2.5Mtpa design of the hard rock plant, and statements with respect to the stage 2 hard rock expansion.

    All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances.

    All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, delays caused by pandemics, terrorist or other violent attacks (including cyber security attacks), the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management discussion and analysis filed on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements.

    Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/000f28d2-5832-4801-aea9-c0d28d9e71d1

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c5ac3b77-7344-42d6-b2fe-ce36c3f88117

    The MIL Network –

  • MIL-OSI Economics: Apple announces chief operating officer transition

    Source: Apple

    Headline: Apple announces chief operating officer transition

    July 8, 2025

    PRESS RELEASE

    Apple announces chief operating officer transition

    CUPERTINO, CALIFORNIA Apple today announced Jeff Williams will transition his role as chief operating officer later this month to Sabih Khan, Apple’s senior vice president of Operations as part of a long-planned succession. Williams will continue reporting to Apple CEO Tim Cook and overseeing Apple’s world class design team and Apple Watch alongside the company’s Heath initiatives. Apple’s design team will then transition to reporting directly to Cook after Williams retires late in the year.

    “Jeff and I have worked alongside each other for as long as I can remember, and Apple wouldn’t be what it is without him. He’s helped to create one of the most respected global supply chains in the world; launched Apple Watch and overseen its development; architected Apple’s health strategy; and led our world class team of designers with great wisdom, heart, and dedication,” said Tim Cook, Apple’s CEO. “I am and will always be beyond grateful for his numerous contributions to Apple over the years and his loyal friendship. Jeff’s true legacy can be seen in the amazing team he’s created and, while he’ll be greatly missed, he leaves the work of the future in incredible hands.”

    “Sabih is a brilliant strategist who has been one of the central architects of Apple’s supply chain,” said Tim Cook, Apple’s CEO. “While overseeing Apple’s supply chain, he has helped pioneer new technologies in advanced manufacturing, overseen the expansion of Apple’s manufacturing footprint in the United States, and helped ensure that Apple can be nimble in response to global challenges. He has advanced our ambitious efforts in environmental sustainability, helping reduce Apple’s carbon footprint by more than 60 percent. Above all, Sabih leads with his heart and his values, and I know he will make an exceptional chief operating officer.”

    Khan has been at Apple for 30 years and joined the executive team as senior vice president of Operations in 2019. He has been in charge of Apple’s global supply chain for the past six years, ensuring product quality and overseeing planning, procurement, manufacturing, logistics, and product fulfillment functions, as well as Apple’s supplier responsibility programs that protect and educate workers at production facilities around the world. The team also supports Apple’s environmental initiatives by partnering with suppliers to propel green manufacturing, helping conserve resources and protect the planet.

    During his career with Apple, Williams built out a supply chain that has supported Apple’s growth and customers around the world with expansion, including the United States, China, India, Japan, and across Southeast Asia. He led Apple’s supplier responsibility efforts which has helped raise the bar for workers around the world, offering critical training and important education programs. Williams played a key role in the introduction of iPod and iPhone programs. He led the effort on Apple Watch over a decade ago and architected the company’s health strategy, helping customers live healthier lives, learn more about their health, and receive lifesaving care. For the past several years, Williams has also overseen Apple’s industry-leading design team.

    “I have a deep love for Apple. Working with all of the amazing people at this company has been a privilege of a lifetime, and I can’t thank Tim enough for the opportunity, his inspirational leadership, and our friendship over the years,” said Williams. “June marked my 27th anniversary with Apple, and my 40th in the industry. Beginning next year, I plan to spend more time with friends and family, including five grandchildren and counting. I’ve had the pleasure of working closely with Sabih for 27 years and I think he’s the most talented operations executive on the planet. I have tremendous confidence in Apple’s future under his leadership in this role.”

    Before joining Apple’s procurement group in 1995, Khan worked as an applications development engineer and key account technical leader at GE Plastics. He earned bachelor’s degrees in economics and mechanical engineering from Tufts University and a master’s degree in mechanical engineering from Rensselaer Polytechnic Institute.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    Press Contact

    Josh Rosenstock

    Apple

    jrosenstock@apple.com

    Investor Relations Contact

    Suhasini Chandramouli

    Apple

    suhasini@apple.com

    (408) 974-3123

    © 2025 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

    MIL OSI Economics –

  • MIL-OSI Economics: Apple announces chief operating officer transition

    Source: Apple

    Headline: Apple announces chief operating officer transition

    July 8, 2025

    PRESS RELEASE

    Apple announces chief operating officer transition

    CUPERTINO, CALIFORNIA Apple today announced Jeff Williams will transition his role as chief operating officer later this month to Sabih Khan, Apple’s senior vice president of Operations as part of a long-planned succession. Williams will continue reporting to Apple CEO Tim Cook and overseeing Apple’s world class design team and Apple Watch alongside the company’s Heath initiatives. Apple’s design team will then transition to reporting directly to Cook after Williams retires late in the year.

    “Jeff and I have worked alongside each other for as long as I can remember, and Apple wouldn’t be what it is without him. He’s helped to create one of the most respected global supply chains in the world; launched Apple Watch and overseen its development; architected Apple’s health strategy; and led our world class team of designers with great wisdom, heart, and dedication,” said Tim Cook, Apple’s CEO. “I am and will always be beyond grateful for his numerous contributions to Apple over the years and his loyal friendship. Jeff’s true legacy can be seen in the amazing team he’s created and, while he’ll be greatly missed, he leaves the work of the future in incredible hands.”

    “Sabih is a brilliant strategist who has been one of the central architects of Apple’s supply chain,” said Tim Cook, Apple’s CEO. “While overseeing Apple’s supply chain, he has helped pioneer new technologies in advanced manufacturing, overseen the expansion of Apple’s manufacturing footprint in the United States, and helped ensure that Apple can be nimble in response to global challenges. He has advanced our ambitious efforts in environmental sustainability, helping reduce Apple’s carbon footprint by more than 60 percent. Above all, Sabih leads with his heart and his values, and I know he will make an exceptional chief operating officer.”

    Khan has been at Apple for 30 years and joined the executive team as senior vice president of Operations in 2019. He has been in charge of Apple’s global supply chain for the past six years, ensuring product quality and overseeing planning, procurement, manufacturing, logistics, and product fulfillment functions, as well as Apple’s supplier responsibility programs that protect and educate workers at production facilities around the world. The team also supports Apple’s environmental initiatives by partnering with suppliers to propel green manufacturing, helping conserve resources and protect the planet.

    During his career with Apple, Williams built out a supply chain that has supported Apple’s growth and customers around the world with expansion, including the United States, China, India, Japan, and across Southeast Asia. He led Apple’s supplier responsibility efforts which has helped raise the bar for workers around the world, offering critical training and important education programs. Williams played a key role in the introduction of iPod and iPhone programs. He led the effort on Apple Watch over a decade ago and architected the company’s health strategy, helping customers live healthier lives, learn more about their health, and receive lifesaving care. For the past several years, Williams has also overseen Apple’s industry-leading design team.

    “I have a deep love for Apple. Working with all of the amazing people at this company has been a privilege of a lifetime, and I can’t thank Tim enough for the opportunity, his inspirational leadership, and our friendship over the years,” said Williams. “June marked my 27th anniversary with Apple, and my 40th in the industry. Beginning next year, I plan to spend more time with friends and family, including five grandchildren and counting. I’ve had the pleasure of working closely with Sabih for 27 years and I think he’s the most talented operations executive on the planet. I have tremendous confidence in Apple’s future under his leadership in this role.”

    Before joining Apple’s procurement group in 1995, Khan worked as an applications development engineer and key account technical leader at GE Plastics. He earned bachelor’s degrees in economics and mechanical engineering from Tufts University and a master’s degree in mechanical engineering from Rensselaer Polytechnic Institute.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    Press Contact

    Josh Rosenstock

    Apple

    jrosenstock@apple.com

    Investor Relations Contact

    Suhasini Chandramouli

    Apple

    suhasini@apple.com

    (408) 974-3123

    © 2025 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

    MIL OSI Economics –

  • MIL-OSI USA: ICYMI: Tuberville Joins USDA and DoD Secretaries in Press Conference on Protecting American Farmland from China

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    “We have to get the Secretary of Agriculture on CFIUS to protect our farmland. If we don’t do it, we’re going to continue to lose at the end of the day.”

    WASHINGTON – Today,U.S. Senator Tommy Tuberville (R-AL) joined U.S. Department of Agriculture (USDA) Secretary Brooke Rollins and Department of Defense (DoD) Secretary Pete Hegseth and other government officials in a press conference announcing the Trump administration’s National Farm Security Plan. 

    During the event, Secretary Rollins announced that as of today, the Ag Secretary will enter into a Memorandum of Agreement with the Chair of the Committee on Foreign Investment in the U.S. (CFIUS) to be a permanent member of CFIUS. This is something Senator Tuberville has pushed for since he entered the Senate with his Foreign Adversary Risk Management (FARM) Act. In addition to the FARM Act, Sen. Tuberville has introduced multiple other pieces of legislation to help combat the rise of foreign influence in our domestic ag supply chains during his time on the Senate Ag Committee, including the AFIDA Act and the Protecting America’s Agricultural Land from Foreign Harm Act. According to the most recent data from the USDA, Alabama has the fourth-highest amount of foreign-owned farmland, at 2.2 million acres.

    Read Sen. Tuberville’s remarks below or watch on YouTube or Rumble. 

    “I always looked for a day like this when I was coaching. I’d work the hell out of them, and we’d line up down there in the parking lot and just run for about an hour, you know?

    Just think about it right now though, our farmers every day go out every morning to scratch the ground, to try to make a living, and try to feed all of us in this country. And they’re very important. I’m on the Ag Committee [and the] Armed Services Committee. I’ve seen it all. I’m not a politician. I’ve been on the front row and been able to watch the devastation of our farming community in the last four years under the Democrat, Socialist, Communist Biden party. It was devastating.

    Input costs [were] high, $5 diesel, [and] instead of a $700,000 cotton picker, they’re a million dollars and a half. They wanted to put our farmers under. We lost 150,000 farms and 25,000 farmers in the last few years. Folks, we are in trouble in Ag. Real trouble. And we just tried to help them with reference prices in the Big Beautiful Bill we just passed, but they’re gonna need a lot of help. They are scratching and clawing just to make a living.

    Thanks [to] Brooke for putting this on. 

    China is a threat. They’re not [just] a threat— they are dominating us in almost everything that they do because we’ve sat back, and the politicians have been counting their money instead of doing what’s right, and helping this country stay in the front. We’ve got to be number one. We can’t be number two. We’ve got to fight back. They are coming into our country and buying our farmland.

    In my state of Alabama alone, they own 2.2 million acres of farmland. That’s right—in Alabama—foreign adversaries [own our land]. It’s embarrassing, what we’ve done. Now, don’t blame the farmers. The farmers have to make a living. And if they can’t make a living, they have to sell their farmland.

    The Biden Administration forced our farmers to sell their farmland by all the things they did to them—it’s a disgrace. Brooke is going to bring that back. President Trump’s going to bring that back.

    The one thing I’m trying to do is I’m trying to pass the FARM Act [and the Protecting America’s Agricultural Land from] Foreign Adversaries Act. What is that? We have a group in this country called CFIUS. CFIUS is a group of Cabinet members that determine who buys what if there is a foreign sale. I mean, they all get together, and they look at it, whether it’s a steel company, whether it’s farmland, whether it’s some kind of business, that’s what CFIUS does. And it’s made up of high-ranking Cabinet members in the White House. Who is not on there? The Secretary of Agriculture. What the hell are we doing? I mean, how far behind are we? We have to get the Secretary of Agriculture on CFIUS to protect our farmland. If we don’t do it, we’re going to continue to lose at the end of the day.

    So, thanks for being here. In a few minutes, we’re lining up down in this endzone, and we’re going to start running this way until I get tired of watching.

    Thank you very much. God bless you.”

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP and Aging Committees.

    MIL OSI USA News –

  • MIL-OSI USA: Maryland Couple Sentenced for $20M Insurance Fraud Scheme

    Source: US State of California

    A Maryland husband and wife were sentenced today to 12 years in prison and four years in prison, respectively, after their convictions for a scheme to commit insurance fraud.

    The following is according to court documents and evidence presented at trial: James and Maureen Wilson, of Owings Mills, conspired to defraud insurance companies by obtaining over 40 life insurance policies for applicants by mispresenting their health, wealth, and existing life insurance coverage. The total death benefits from these policies exceeded $20 million. The Wilsons also conspired to defraud individual investors to obtain funds that Wilson used to pay premiums on fraudulently obtained life insurance policies.

    To conceal the fraud, the Wilsons transferred the money they made from the fraud through multiple bank accounts, including accounts in the name of trusts. The Wilsons filed false individual income tax returns for 2018 and 2019, which did not report as income or pay tax on the approximately $5.7 million and $2 million, respectively, they made from the fraud.

    In addition to their prison sentences, Judge Deborah K. Chasanow for the District of Maryland ordered both Wilsons to serve three years of supervised release and to pay approximately $16 million in restitution to victims of the insurance fraud scheme and $2.7 million in restitution to the United States. She also ordered the Wilsons to forfeit approximately $14.8 million in seized funds.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Kelly O. Hayes for the District of Maryland made the announcement.

    IRS Criminal Investigation investigated the case with assistance from the Maryland Insurance Administration and the Maryland Office of The Attorney General.

    Trial Attorneys Shawn Noud and Richard Kelley of the Tax Division, Assistant U.S. Attorneys Matthew Phelps and Philip Motsay for the District of Maryland, and Trial Attorney Stephanie Williamson of the Justice Department’s Criminal Division prosecuted the case. 

    MIL OSI USA News –

  • MIL-OSI USA: Maryland Couple Sentenced for $20M Insurance Fraud Scheme

    Source: US State of California

    A Maryland husband and wife were sentenced today to 12 years in prison and four years in prison, respectively, after their convictions for a scheme to commit insurance fraud.

    The following is according to court documents and evidence presented at trial: James and Maureen Wilson, of Owings Mills, conspired to defraud insurance companies by obtaining over 40 life insurance policies for applicants by mispresenting their health, wealth, and existing life insurance coverage. The total death benefits from these policies exceeded $20 million. The Wilsons also conspired to defraud individual investors to obtain funds that Wilson used to pay premiums on fraudulently obtained life insurance policies.

    To conceal the fraud, the Wilsons transferred the money they made from the fraud through multiple bank accounts, including accounts in the name of trusts. The Wilsons filed false individual income tax returns for 2018 and 2019, which did not report as income or pay tax on the approximately $5.7 million and $2 million, respectively, they made from the fraud.

    In addition to their prison sentences, Judge Deborah K. Chasanow for the District of Maryland ordered both Wilsons to serve three years of supervised release and to pay approximately $16 million in restitution to victims of the insurance fraud scheme and $2.7 million in restitution to the United States. She also ordered the Wilsons to forfeit approximately $14.8 million in seized funds.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Kelly O. Hayes for the District of Maryland made the announcement.

    IRS Criminal Investigation investigated the case with assistance from the Maryland Insurance Administration and the Maryland Office of The Attorney General.

    Trial Attorneys Shawn Noud and Richard Kelley of the Tax Division, Assistant U.S. Attorneys Matthew Phelps and Philip Motsay for the District of Maryland, and Trial Attorney Stephanie Williamson of the Justice Department’s Criminal Division prosecuted the case. 

    MIL OSI USA News –

  • MIL-OSI Security: Maryland Couple Sentenced for $20M Insurance Fraud Scheme

    Source: United States Attorneys General

    A Maryland husband and wife were sentenced today to 12 years in prison and four years in prison, respectively, after their convictions for a scheme to commit insurance fraud.

    The following is according to court documents and evidence presented at trial: James and Maureen Wilson, of Owings Mills, conspired to defraud insurance companies by obtaining over 40 life insurance policies for applicants by mispresenting their health, wealth, and existing life insurance coverage. The total death benefits from these policies exceeded $20 million. The Wilsons also conspired to defraud individual investors to obtain funds that Wilson used to pay premiums on fraudulently obtained life insurance policies.

    To conceal the fraud, the Wilsons transferred the money they made from the fraud through multiple bank accounts, including accounts in the name of trusts. The Wilsons filed false individual income tax returns for 2018 and 2019, which did not report as income or pay tax on the approximately $5.7 million and $2 million, respectively, they made from the fraud.

    In addition to their prison sentences, Judge Deborah K. Chasanow for the District of Maryland ordered both Wilsons to serve three years of supervised release and to pay approximately $16 million in restitution to victims of the insurance fraud scheme and $2.7 million in restitution to the United States. She also ordered the Wilsons to forfeit approximately $14.8 million in seized funds.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Kelly O. Hayes for the District of Maryland made the announcement.

    IRS Criminal Investigation investigated the case with assistance from the Maryland Insurance Administration and the Maryland Office of The Attorney General.

    Trial Attorneys Shawn Noud and Richard Kelley of the Tax Division, Assistant U.S. Attorneys Matthew Phelps and Philip Motsay for the District of Maryland, and Trial Attorney Stephanie Williamson of the Justice Department’s Criminal Division prosecuted the case. 

    MIL Security OSI –